📊 COR Key Takeaways
Is Cencora, Inc. (COR) a Good Investment?
Cencora exhibits critical financial stress with negative operating cash flow of -$966.5M and free cash flow deficit of -$1.3B despite reported net income of $2.2B, indicating working capital deterioration or operational deterioration that questions sustainability. The 3.65x debt-to-equity ratio combined with deteriorating liquidity ratios (current 0.95x, quick 0.59x) and $12.4B debt burden creates significant financial vulnerability given the company's inability to generate positive operating cash to service obligations.
Cencora’s fundamentals show a high-scale, consistently profitable distributor model, but the quality of those profits is constrained by extremely thin margins and a weak cash flow profile in the latest period. Strong reported ROE is offset by high leverage, low liquidity, and negative free cash flow, which makes the business fundamentally stable but not especially strong on current financial health.
Cencora, Inc. Key Strengths (COR)
- Market leadership with $164.3B revenue, indicating dominant position in pharmaceutical wholesale distribution
- Positive net income of $2.2B demonstrates operational profitability despite thin margins inherent to distribution sector
- Gross margin of 4.1% is appropriate for pharmaceutical wholesaling, suggesting scale efficiency at product level
- Massive revenue base and positive operating earnings indicate durable scale in a defensive healthcare distribution business
- High reported ROE suggests strong earnings generation relative to a small equity base
- Low capital expenditure requirements support the potential for cash conversion when working capital normalizes
COR Stock Risks: Cencora, Inc. Investment Risks
- Negative operating cash flow of -$966.5M combined with $1.3B free cash flow deficit indicates unsustainable cash generation relative to debt obligations and capital needs
- Liquidity crisis risk with current ratio of 0.95x and quick ratio of 0.59x, suggesting inability to cover near-term liabilities with liquid resources
- Excessive leverage of 3.65x debt-to-equity paired with negative OCF and thin 1.2% operating margin provides minimal financial flexibility for disruptions or refinancing risks
- Margins are exceptionally thin, leaving little room for operational mistakes or reimbursement pressure
- Latest operating cash flow and free cash flow are negative, raising concerns about earnings quality and working capital strain
- Leverage is elevated and liquidity is tight, with debt/equity of 4.15x and a current ratio below 1.0x
Key Metrics to Watch
- Operating cash flow trajectory - must turn positive within 2-3 quarters to validate business model sustainability
- Working capital components (accounts receivable days, inventory turns, payable terms) to identify cash conversion cycle deterioration source
- Debt refinancing capacity and debt-to-EBITDA ratio given negative operating cash flow limits ability to service $12.4B debt burden
- Operating cash flow and free cash flow improvement versus net income
- Debt burden, liquidity ratios, and operating margin stability
Cencora, Inc. (COR) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
COR Profit Margin, ROE & Profitability Analysis
COR vs Market Sector: How Cencora, Inc. Compares
How Cencora, Inc. compares to Market sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Cencora, Inc. Stock Overvalued? COR Valuation Analysis 2026
Based on fundamental analysis, Cencora, Inc. has mixed fundamental signals relative to the Market sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Cencora, Inc. Balance Sheet: COR Debt, Cash & Liquidity
COR Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Cencora, Inc.'s revenue has grown significantly by 50% over the 5-year period, indicating strong business expansion. The most recent EPS of $8.53 reflects profitable operations.
COR Revenue Growth, EPS Growth & YoY Performance
COR Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $75.5B | $717.9M | $3.68 |
| Q1 2026 | $81.5B | $488.6M | $2.50 |
| Q3 2025 | $74.2B | $483.5M | $2.42 |
| Q2 2025 | $68.4B | $420.8M | $2.09 |
| Q1 2025 | $72.3B | $488.6M | $2.50 |
| Q3 2024 | $66.9B | $479.6M | $2.35 |
| Q2 2024 | $63.5B | $420.8M | $2.09 |
| Q1 2024 | $62.8B | $479.7M | $2.33 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Cencora, Inc. Dividends, Buybacks & Capital Allocation
COR SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Cencora, Inc. (CIK: 0001140859)
📋 Recent SEC Filings
❓ Frequently Asked Questions about COR
What is the AI rating for COR?
Cencora, Inc. (COR) has a Combined AI Grade of C from Claude (C) and ChatGPT (B) with 74% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are COR's key strengths?
Claude: Market leadership with $164.3B revenue, indicating dominant position in pharmaceutical wholesale distribution. Positive net income of $2.2B demonstrates operational profitability despite thin margins inherent to distribution sector. ChatGPT: Massive revenue base and positive operating earnings indicate durable scale in a defensive healthcare distribution business. High reported ROE suggests strong earnings generation relative to a small equity base.
What are the risks of investing in COR?
Claude: Negative operating cash flow of -$966.5M combined with $1.3B free cash flow deficit indicates unsustainable cash generation relative to debt obligations and capital needs. Liquidity crisis risk with current ratio of 0.95x and quick ratio of 0.59x, suggesting inability to cover near-term liabilities with liquid resources. ChatGPT: Margins are exceptionally thin, leaving little room for operational mistakes or reimbursement pressure. Latest operating cash flow and free cash flow are negative, raising concerns about earnings quality and working capital strain.
What is COR's revenue and growth?
Cencora, Inc. reported revenue of $164.3B.
Does COR pay dividends?
Cencora, Inc. pays dividends, with $244.0M distributed to shareholders in the trailing twelve months.
Where can I find COR SEC filings?
Official SEC filings for Cencora, Inc. (CIK: 0001140859) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is COR's EPS?
Cencora, Inc. has a diluted EPS of $11.27.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is COR's fundamental grade?
Based on our AI fundamental analysis in June 2026, Cencora, Inc. has a C grade with 74% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is COR stock overvalued or undervalued?
Valuation metrics for COR: ROE of 64.8% (sector avg: 15%), net margin of 1.3% (sector avg: 12%). Higher ROE suggests strong returns relative to peers.
What is COR's AI grade for 2026?
Our dual AI analysis gives Cencora, Inc. a combined C grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is COR's free cash flow?
Cencora, Inc.'s operating cash flow is $-966.5M, with capital expenditures of $285.0M. FCF margin is -0.8%.
How does COR compare to other Market stocks?
Vs Default sector averages: Net margin 1.3% (avg: 12%), ROE 64.8% (avg: 15%), current ratio 0.95 (avg: 1.8).
Is Cencora, Inc. carrying too much debt?
COR has a debt-to-equity ratio of 3.65x, which is above the Market sector average of 0.7x. Combined with a current ratio below 1, this warrants careful monitoring of the balance sheet.
Why is COR's return on equity (ROE) so high?
Cencora, Inc. has a return on equity of 64.8%, significantly above the Market sector average of 15%. A high ROE indicates the company is efficient at generating profits from shareholder equity. This is supported by a 1.3% net margin.